The FED minutes support the Dollar

The Dollar started the trading day pretty strong and the bullish momentum expanded even more when the Federal Open Market Committee made public its minutes from the last FED meeting. A couple of points that were mentioned made the Dollar rally, like for example, most members of the committee agreed that the FED should keep reducing its asset purchase program at a steady and predictable pace. The other point was that most probably interest rates will rise in the US before anticipated if the economy keeps showing signs of improvement, especially in the labor market.

This has caused the Dollar to reach an 11 month high versus the Euro and versus the Yen is very close to touching the 104.00 level. If the strong fundamentals persist out of the US, then there is no telling on how high the greenback may rise.